Franklin Resources Inc. Acquires 181,451 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Franklin Resources Inc. lifted its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,549,069 shares of the company’s stock after purchasing an additional 181,451 shares during the quarter. Franklin Resources Inc. owned 5.91% of Acumen Pharmaceuticals worth $8,340,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABOS. Renaissance Technologies LLC acquired a new position in Acumen Pharmaceuticals during the second quarter worth $818,000. FMR LLC lifted its stake in Acumen Pharmaceuticals by 0.3% in the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company’s stock valued at $5,030,000 after purchasing an additional 6,014 shares during the last quarter. American Century Companies Inc. increased its position in Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after buying an additional 10,840 shares during the last quarter. Rhumbline Advisers acquired a new position in Acumen Pharmaceuticals during the second quarter worth approximately $127,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at approximately $44,000. Institutional investors own 71.01% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

Acumen Pharmaceuticals Trading Up 2.8 %

Shares of Acumen Pharmaceuticals stock opened at $1.85 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43. The firm has a 50-day moving average of $2.49 and a 200-day moving average of $2.58. Acumen Pharmaceuticals, Inc. has a 52-week low of $1.72 and a 52-week high of $5.09. The stock has a market cap of $111.15 million, a PE ratio of -1.34 and a beta of -0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the prior year, the company earned ($0.24) EPS. As a group, sell-side analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Acumen Pharmaceuticals Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.